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Brazilian President Lula reportedly overrode aides by weaving tax-relief measures for the poor into a fiscal package, diluting the spending plan. The move helped trigger a stock market rout, and the real fell to a record low against the dollar.
Fiscal uncertainty weakens the real, which raises the cost of imported feed ingredients and inputs for Brazilian buyers and can push up domestic inflation and interest rates.
bloomberg.comMartha Beck, Daniel Carvalho, Barbara Nascimento, Giovanna Bellotti Azevedo2 dic 2024Tras 12 eventos alcista de política pasados, Real brasileño (BRL por USD) se movió una mediana de +1,5 % en 5 sesiones (58% al alza; mitad central entre -1,1 % y +2,0 %), y +2,3 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Reports of Lula diluting the fiscal package with tax relief deepened fiscal credibility worries and triggered a market rout with the real at a record low on Dec 2.
